Nowadays, you can find so many opportunities for investment available with lots of promises. Usually, it is easy for most people to be a little skeptical about new products that claim to be helping to save tons of money.
Solar panels are one such thing where it is claimed to save money by reducing electric bills and that is the selling point for all solar panel manufacturers.
Now let us first try to understand how do solar panels work? The following are 4 steps taken by solar panels to provide you electricity:
- Firstly, the photovoltaic cells will absorb the solar energy and convert it into direct current (DC) electricity
- This DC electricity will then be converted to AC electricity by using an inverter, which is then fed to our panels.
- Electricity so obtained will flow into the power system of our home for powering all electronic devices
- Any excess electricity that solar panels produce will be fed to the electric grid.
People nowadays prefer to install solar panels at their home because they can get the following few benefits from solar panels.
Reduce your energy bills
It is not necessary to have a bright sun to produce a sufficient amount of energy that is needed in most of the average American homes. Even the cloudy sky can also offer a sufficient amount of energy to meet all the needs.
Sunny days can produce more energy which will be stored, and during cloudy weather, it can produce about 10 to 20 percent of the same energy that can meet all the needs of your home.
Tax credits and rebates
As per federal law, you will get back 30 percent of your initial cost of equipment that you have spent while filing your tax return. Along with that, you will be offered a rebate from your electricity bill and as a result, you will be paying almost half your electricity bill.
You may be living in any part of the USA, you can earn all these credits and rebates that may however vary from state to state.
Start saving from the first day
By installing a solar panel you can also increase the resale value of your home. In addition to that, you start saving a considerable amount from your energy bill and that will come out to be an appreciable amount over a period of time.
Besides, by installing a solar panel, your roof will also remain protected from rain, snow, or debris and your home too will remain energy efficient as the sun will not hit your home directly during summer and keep the temperature lower.
Help the environment
As you know, solar energy will be derived from the sun and hence it will produce clean energy where no fossil fuel will be burnt and there will be no emission of gas in the environment.
Also, several LEED credits are related to solar energy that you can investigate in case you are planning to build a green home.